November 4, 2023 Grandpa checks in
OpenSea announced a 50% layoff and will work in a flatter organizational style in the future. The more conscientious thing is that the laid-off employees will receive 4 months of severance pay and an accelerated equity vesting schedule. In addition to being affected by the decline in overall NFT market transaction data, OS's centralized operating methods and IPO path have also begun to face market challenges. According to Dune data, Opensea had 32,000 unique wallet addresses in the past week, twice that of Blur, but Blur's total NFT sales market share was 70%. For projects in the B circle, the only successful paths that do not issue coins are currently exchanges and miners. The valuation of OS may be further affected in the future.
Another big news this week is that SBF was found guilty. The 12-member jury of the Manhattan Federal Court found all seven charges against SBF. Currently, SBF himself has denied all charges, and his attorney also said that he would continue to appeal. However, according to the content of some bigwigs' tweets, the era of FTX is completely over. As the saying goes, the greater the power, the greater the responsibility. Any evildoer should be punished, and those with powerful abilities should act with caution, otherwise it will not only affect their own lives, but also the families of thousands of people affected.
In terms of the market, there will be a slight pause in the next two days. If Bitcoin can continue to fluctuate in the range, the probability of a subsequent upward breakthrough will gradually increase. If Bitcoin is stable, if strong coins encounter a pullback, we can consider following up. I don’t play short-term trading much. I mainly like to ambush at the right price and then change positions after it takes off. A friend’s message mentioned that high-cutting low is a good method, and I occasionally use it. For example, ARB and OP belong to the same track. If one rises more in the short term, you can switch to the other.
Every time the market is busy, there are always a lot of coins that look like they will rise very high in the short term. In fact, according to my investment logic, it is very difficult to make money from such coins. First of all, you have to buy them at a low price. Unless you get in touch with them very early, it is difficult to make a large position at a low price for projects you don't understand. But if you pay attention to them early, you will basically be trapped first if you look at the price curve. Therefore, this is a vicious circle. How to buy coins that have skyrocketed? My logic is based on the big cake and the overall market atmosphere, and then I make a layout from top to bottom. The rest depends on luck. For example, I kept saying that I could buy them a while ago. Those who bought them should be more comfortable now. When the price goes up, don't be confused by those Bs that have skyrocketed in the short term. Think about the logic I said. It's better to make a layout. If you don't make a layout, don't worry about gains and losses.
Thank you for your attention and likes.
